LONDON — European markets are heading for a lower open Friday as investors await the outcome of the U.S. election and react to rising coronavirus cases and new restrictions across the continent.
Britain’s FTSE 100 is set to fall by around 25 points to 5,881, Germany’s DAX is expected to shed around 87 points to 12,481 and France’s CAC 40 is seen around 35 points lower at 4,949.
The eyes of the world remain on the counting of ballots in U.S. election, with Democratic candidate Joe Biden closing President Donald Trump’s leads in key swing states of Georgia and Pennsylvania.
Based on NBC News’ tally, Democratic nominee Joe Biden has racked up 253 electoral votes, leaving him 17 shy of the 270 needed to win the White House. Votes are also still being counted in Nevada and Arizona, where Biden holds narrow leads.
Dow futures edged lower Friday, but Wall Street is still on course for its best week since April. Stocks in Asia-Pacific were mixed overnight, with mainland Chinese indices leading losses, while Australian shares added 0.6%.
Markets remain attuned to the spread of Covid-19 in Europe, with Italy recording its highest daily death toll since April on Thursday and Italian regions entering partial lockdowns under the government’s new tiered system. Greece has also announced a national lockdown.
Corporate earnings Friday come from Austrian chipmaker AMS and German insurer Allianz.
On the data front, Germany’s industrial output figures for September and French nonfarm payrolls are due before the bell Friday.